Thread: Fraud

Daily Market Commentary for December 18, 2008 from Millennium-Traders.Com

"Charities that invested in Madoff could end up losing savings on which millions depend - a massive fraud that was made possible in part because the regulators who were assigned to oversee Wall Street dropped the ball." (read more)

Economic data released today:

Initial Jobless Claims:
U.S. Jobless Claims for week of December 13 fell 21K to 554K with survey expecting a drop by 23K; U.S. Continuing Claims for week of December 6 fell 47K to 4,384,000; U.S. Jobless Claims Revised for week of December 6 to 575K from 573K.

U.S. Conference Board Leading Indicators:
November Leading Index fell 0.4%; November Coincident Index fell 0.3%; November Lagging Index rose 0.1%.

Philadelphia Fed Manufacturing Survey:
Phili Fed December Business Index down 32.9 versus November drop by 39.3; Phili Fed December Business Index Expected down 40.0; Phili Fed December Price Paid down 33.2 versus November drop by 30.7; Phili Fed December Price Received down 37.8 versus November drop by 15.5; Phili Fed December Employment down 28.7 versus November drop by 25.2; Phili Fed December New Orders down 25.2 versus November drop by 31.4; Phili Fed December Shipments down 28.7 versus November drop by 18.8; Phili Fed December Delivery Times down 22.8 versus November drop by 20.6; Phili Fed December Inventories down 31.1 versus November drop by 19.6.

President Federal Reserve Bank of Dallas, Richard W. Fisher comments from today:
Takes a while to restore confidence; GSEs are cornerstone of mortgage market; Fed must prevent deflation; Fed has exit strategy in mind; Fed must eventually shrink balance sheet; still a long way to go toward recovery; signs of Fed policies working on Libor, mortgage rates; U.S. jobless rate may exceed 8%; further U.S. economic contraction likely thru at least 1H 2009; U.S. economy to contract 4% - 5% in 4Q 2008; Fed failed to detect signs of financial system excess; Fed will pursue all viable means to support financial markets; Fed ready to expand balance sheet as needed.

Companies in the news today:
General Electric (NYSE: GE) had its credit outlook cut to 'negative' by Standard & Poor's 500 Index, leading to a possible downgrade. FedEx Corporation (NYSE: FDX) announced they will cut salaries and halt hiring. FedEx will be reducing salaries for many top ****utives.

At the NYSE closing bell on the New York Stock Exchange, here is how the major world indices and major U.S. stock indices ended the trading session on the world markets as well as the emerging markets including the stock market closing bell price:
DOW (Dow Jones Industrial Average) triple digit loss of 219.35 points to end the trading session at 8,604.99
NYSE (New York Stock Exchange) triple digit loss of 151.76 points to end the trading session at 5,618.04
National Association of Securities Dealers Automated Quotations (NASDAQ) loss of 26.94 points to end the trading session at 1,552.37
S&P 500 (SPX) loss of 19.08 points to end the trading session at 885.34
FTSE All-World Index data excluding U.S. (AW01UK) loss of 2.66 points to end the trading session at 148.85
FTSE RAFI 1000 loss of 68.81 points to end the trading session at 3,413.35
BEL 20 (BEL20) gain of 22.23 points to end the trading session at 1,881.85
CAC 40 (CAC40) loss of 7.77 points to end the trading session at 3,234.15
FTSE100 (UKX100) gain of 6.47 points to end the trading session at 4,330.66
NIKKEI 225 (NIK/O) gain of 54.71 points to end the trading session at 8,667.23

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 1,331, declined stock prices 1,823, unchanged stock prices 75, stock prices hitting new highs 4 and stock prices hitting new lows 30. NYSE quotes for volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the New York Stock Exchange stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: Apache Corporation (NYSE: APA) stock price shed 4.21 points on the trading session, high on the trading session $73.40, low on the trading session $68.61, with a closing stock price at $69.81; Sunoco Incorporated (NYSE: SUN) stock price shed 1.20 points on the trading session, high on the trading session $42.77, low on the trading session $39.49, with a closing stock price at $39.84; Goldman Sachs Group Incorporated (NYSE: GS) stock price gained 1.27 points on the trading session, high on the trading session $81.19, low on the trading session $78.25, with a closing stock price at $80.05.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,099, declined stock prices 1,784, unchanged stock prices 136, stock prices hitting new highs 13 and stock prices hitting new lows 69. NASDAQ quotes, volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the NASDAQ stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: Apogee Enterprises Incorporated (NasdaqGS: APOG) stock price gained 1.15 points on the trading session, high on the trading session $10.85, low on the trading session $9.13, with a closing stock price at $10.10; Atheros Communications Incorporated (NasdaqGS: ATHR) stock price shed 2.81 points on the trading session, high on the trading session $14.91, low on the trading session $12.95, with a closing stock price at $13.19.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 282, declined stock prices 354, unchanged stock prices 55, stock prices hitting new highs 2 and stock prices hitting new lows 26.

Chicago Board of Trade Futures Market for the day, at time of this posting for March 2009 Contracts and December 2008 Contracts for E-mini S&P Small Cap 600:
E-mini S&P 500 (ES): End of trading session price 891.00; Change for the trading session -12.00
E-mini NASDAQ-100 (NQ): End of trading session price 1,223.25; Change for the trading session -5.25
E-mini DOW $5 (YM): End of trading session price 8,665; Change for the trading session -114
E-mini S&P MidCap 400 (MF): End of trading session price 525.70; Change for the trading session -4.30
E-mini S&P Small Cap 600 (HS): End of trading session price 8,670; Change for the trading session 35

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7036 to U.S. Dollars 1.4212
Japanese Yen 89.490 to U.S. Dollars 0.0112
British Pound 0.6671 to U.S. Dollars 1.4991
Canadian Dollar 1.2053 to U.S. Dollars 0.8297
Swiss Franc 1.0850 to U.S. Dollars 0.9217

COMMODITY MARKETS:

Energy Sector - Nymex:
Light Crude (January 09) shed $3.84 on the trading session for a closing price of $36.22 per barrel ($US per barrel)
Heating Oil (February 09) shed $0.07 on the trading session for a closing price of $1.40 a gallon ($US per gallon)
Natural Gas (March 09) shed $0.08 on the trading session for a closing price of $5.64 per million BTU ($US per mmbtu.)
Unleaded Gas (January 09) shed $0.04 on the trading session for a closing price of $0.96 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (February 09) shed $7.90 on the trading session for a closing price of $860.60 ($US per Troy ounce)
Silver (March 09) shed $0.30 on the trading session for a closing price of $11.12 ($US per Troy ounce)
Platinum (January 09) shed $1.30 on the trading session for a closing price of $863.90 ($US per Troy ounce)
Copper (March 09) shed $0.07 on the trading session for a closing price of $1.30 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (February 09) shed 0.15 on the trading session for a closing price of 62.48
Pork Bellies (February 09) gained 2.00 on the trading session for a closing price of 88.98
Live Cattle (February 09) shed 1.18 on the trading session for a closing price of 85.70
Feeder Cattle (March 09) shed 1.20 on the trading session for a closing price of 91.78

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (March 09) no change on the trading session for a closing price of 389.50
Soybeans (March 09) gained 5.50 on the trading session for a closing price of 874.50

BOND MARKET:
2 year Bond closing price 101 2/32, change 3/32, Yield 0.68, Yield change -0.05
5 year Bond closing price of 103 15/32, change 15/32, Yield 1.27, Yield change -0.09
10 year Bond closing price 114 30/32, change 30/32, Yield 2.08, Yield change -0.28
30 year Bond closing price 140 10/32, change 2 23/32, Yield 2.54, Yield change -0.11

Thanks for reading
Millennium-Traders.Com

Amazing Ponzi! The internet scams fail in comparison but still hurt just as bad.

Crazy Ponzi scheme, it's surprising that this wasn't caught sooner.